MAFAR awards P1.2M worth of loan to 12 coops in Maguindanao

COTABATO CITY – The Ministry of Agriculture, Fisheries, and Agrarian Reform (MAFAR) of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) awarded P1.2 million worth of loan in check from the MAFAR Loan for Enhancement for Necessary Development Strategy (MAFARLENDS) Program to 12 cooperatives in the province of Maguindanao on Oct. 21.
Spearheaded by OIC-Chief Datu Hamsur J. Zaid of the Agribusiness Marketing Assistance Division (AMAD), the activity was held at the MAFAR Conference Room, inside the Bangsamoro Government Center (BGC) in this city. 

Each of the 12 approved validated MAFARLENDS 2021 remaining beneficiaries received P100,000 worth of loan payable in three years.

According to a statement released by MAFAR, the program aims to let the people of the BARMM, especially the farmers and the fisherfolks, know that the agency is committed “to helping in uplifting their economic condition by providing funding support and loan assistance for micro and small enterprises engaged in agriculture and fisheries production and other supply chain activities to ensure availability of food supply, especially in remote areas to help them increase their production and marketing activities consequently improve their economic conditions.” 

MAFAR Director-General for Agriculture Services Daud K. Lagasi welcomed the beneficiaries and said that he was grateful for the opportunity to meet them as well as for MAFAR to serve as instrument in contributing to their livelihood.

Ato Sionga, chairperson of the Magungaya Agri-Fishery Marketing Cooperative and Nida Matabalao Alongan, chairperson of the Bangsamoro Peace Advocate Consumer Cooperative delivered their messages of commitment.  They thanked MAFAR for their opportunity of having been chosen as beneficiaries even as they promised to take good care and grow the money and to fulfill their part as borrowers.

Addressing the beneficiaries, MAFAR Minister Mohammad Yacob said “you are our partners, and we have given you our trust and confidence, and it is a test of faith on our part that you will be successful by operating the money legally and conscientiously, so please implement it fully and correctly.”